KMG Chemicals, Inc. (KMG) to Issue Quarterly Dividend of $0.03 on October 16th
KMG Chemicals, Inc. (NYSE:KMG) announced a quarterly dividend on Friday, September 29th, Fidelity reports. Shareholders of record on Tuesday, October 10th will be given a dividend of 0.03 per share by the specialty chemicals company on Monday, October 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, October 6th.
KMG Chemicals has increased its dividend payment by an average of 10.1% annually over the last three years. KMG Chemicals has a payout ratio of 5.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect KMG Chemicals to earn $3.19 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 3.8%.
Shares of KMG Chemicals (KMG) opened at 53.65 on Thursday. The company has a market capitalization of $637.84 million, a P/E ratio of 29.43 and a beta of 0.62. The firm’s 50 day moving average price is $49.86 and its 200-day moving average price is $50.08. KMG Chemicals has a 1-year low of $26.33 and a 1-year high of $61.10.
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KMG has been the subject of several research analyst reports. BidaskClub cut KMG Chemicals from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research cut KMG Chemicals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th.
In other news, major shareholder David L. Hatcher sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $49.82, for a total value of $448,380.00. Following the completion of the transaction, the insider now directly owns 1,715,097 shares in the company, valued at $85,446,132.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder David L. Hatcher sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $49.59, for a total value of $148,770.00. Following the completion of the transaction, the insider now owns 1,715,097 shares of the company’s stock, valued at $85,051,660.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,000 shares of company stock valued at $12,815,190. Company insiders own 6.90% of the company’s stock.
About KMG Chemicals
KMG Chemicals, Inc manufactures, formulates and globally distributes specialty chemicals. The Company operates businesses selling electronic chemicals, industrial wood treating chemicals, and industrial valve lubricants and sealants. The Company operates through two segments: Electronic chemicals and Other chemicals.
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